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20130321
20130321
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CSPAN
Mar 21, 2013 7:00am EDT
terrible. it was only done as a result of the republican blackmail on the debt ceiling. we increased the debt ceiling. people do not understand what that is. it is foreiling says money you have already spent. if you owe money, you cannot pay the bills. you have to pay the bills. otherwise the country defaults. the treasury people tell us that would be catastrophic. so you have to pay the bills. we have raised the debt ceiling 77 signs -- times since world war ii. there is political demagoguery from whatever clinical party was in go the minority. at the end, there was a vote for it. they say if you increase the debt ceiling coming up to cut spending by an incredible amount. over 10 years. white 10 years? arbitrary. -- why over 10 years? arbitrary. 2.4 congress voted for $ trillion in cuts. 2 trillion -- the sequester makes no sense at all. from our point of view, we do not have a that crisis or deficit crisis. we have a jobs crisis. we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you
CSPAN
Mar 20, 2013 8:00pm EDT
was going to sink into the ocean. why? because we wouldn't raise the debt ceiling. and the republicans said we've got to have some cuts, mr. president. we have got to do something about the debt course. we can't continue. we're not going to allow you to keep running with the credit card of the people of america if you don't show that you're changing your habits and you're containing some of your lust to spend. finally an agreement. he hated it worse than anything. finally an agreement. he signed it. "i agree that if if you will raise my debt ceiling right now of $2.1 trillion, i promise in the future that i'll cut spending $2.1 trillion." if you let me do it over ten years, i'll sign it. but i've got to have my debt ceiling now. less than two years later we've already increased the debt ceiling $2.1 trillion. we're right up there again having to raise the debt ceiling again. it will be a matter of weeks that this has got to be confronted again. well, what about the spending cuts? before the ink was dry on that agreement, signed by the president himself, i've got the document right here
CSPAN
Mar 21, 2013 12:00pm EDT
debt ceiling ceiling $2.1 trillion ae agreed to reduce spending over ten years, $2.1 trillion. before the ink was dry, the president was proposing to eliminate the cuts he agreed to. he's been fighting to eliminate those cuts from the beginning. and they're really not cuts. they're simply -- if they were properly applied, it would reduce the growth of spending and not cut spending actually at all. so the committee that was supposed to find all the cuts failed. the sequester came into law. it's an antimilitary provision. it was put in by jack lew, a very liberal member of the president's, at that time, chief of staff for offic office of mot and budget. the president seems to be quite happy to see these cuts fall on the defense department. he seems to be happy to have this happen. why do you say that? i say, because he's done nothing to philadelphia it. -- to fix it except demand something that he has no right to demand. that is, to violate this agreement and raise taxes and spend more. and that's not going to happen. congress is not going to vote to violate the agreement they made with
FOX Business
Mar 21, 2013 6:00pm EDT
to hit the ceiling this summer in august. he says we're not going to agree to raise the debt ceiling without doing something about entitlements. mcconnell says this brings the president to the table so republicans want an equal number of cuts or more cuts than whatever amount they agreed to raise the debt ceiling by. mcconnell says it's got to come from entitlements because you can't do enough of what we've seen so far, discretionary spending. tracy: they want us off the beach in the summer. we'll have another debt ceiling fight, be here in august sweating it out again. >> yeah, can't wait. tracy: i know, me too. rich, take the vacation now, thanks. >> yeah. tracy: ha-ha, okay, you may want to sit for the next story. members of congress workedded together and passed a bill that will keep the government open for the next six months. who knows what happens in six months though. now the deadline was not tomorrow, and there were no filibusters. they actually compromised. should have sang a song when they were done too. they send the measure to president obama to sign it into law. now, it dips in
CSPAN
Mar 21, 2013 1:00pm EDT
order to raise taxes or to break the debt ceiling that we have, to increase the debt ceiling. if we do that, if we put a balanced budget amendment on the floor of the house and senate and if it passes i'll be ready to look at increasing the debt ceiling for the president. if that doesn't happen, i don't see a reason to raise the debt ceiling. let's stare him down on that until somebody gives in. we need to get this spending under control. and the irresponsible policies is not the way to go. obamacare needs to be repealed. we need to restore the rule of law in this country. we got to shrink down the welfare package that's out here. 80 different means tested welfare programs in the united states, just $2.5 trillion for the illegal component of this. a whole lot more if we don't get these entitlements under control. mr. speaker, the solutions are here. they are on this side of the aisle. they're actually in the platform. i endorse many of them. i appreciate your attention and i yield back the balance of my ime. the speaker pro tempore: the gentleman yields back his time. does the gentlema
CNBC
Mar 21, 2013 2:00pm EDT
had the debt ceiling crisis two and the italian election. we were down 3.5%. we were down two years ago when we had spain one and the first debt ceiling, we were down 10%. this week we're barely down at all, maybe a percent. every time we get through one of these and we will get through this, more and more investors become convinced that the category 10 earthquake has already happened. and long-dated assets like equities should be worth what we think they are worth based on long-term fair value assessments. we think the s&p should be trading 17, 18 times. >> let me get more personal, then, steve. are you a buyer, as we see any kind of cyprus-inspired dips like today, like recently, would you be a buyer? >> absolutely. we're recommending people be overweight eck witdquityequitie. that's what we would be doing here, mandy. i think jack's going to be waiting a long time. europe's going to have a series of these aftershocks, but it's part of the healing process. i think they will get through this cyprus thing. i think most european aren't even sure if cyprus is part of the eu. it's got
Search Results 0 to 5 of about 6